It would seem impossible as check-in closes 60 min before departure, and you much claim bags at CUN and present them for custom inspection. Often this is a zoo (depends what other planes have arrived) and can take an hour by itself. But perhaps MX has some special arrangement for transit pax for this flight (meeting at airside and doing a transit); if MX says it meets MCT then it becomes their problem and expense if you misconnect (of course that is easier said than done).